Tuesday, 19 March 2024
Trending
FBR powers to freeze taxpayers bank accounts previous directive withdrawn by FBR
TAXATION

FBR issues directive to freeze taxpayers’ bank accounts without notice

The Federal Board of Revenue (FBR) has issued office directive to allow the field formations to freeze the bank accounts of taxpayers without any prior approval of the Chairman FBR and without 24 hours prior intimation to the CEOs / principal officers or owners of businesses.

FBR on Monday directed the field formations with regard to the withdrawal of directives pertaining to informing the taxpayer before attaching the bank accounts under Section 140 of the Income Tax Ordinance, 2001 and Section 48 of the Sales Tax Act, 1990.

If you want to become active tax filer or want to get tax, accounting and corporate services in Pakistan then we are here to provide you professional services! Call: 0092-3334875413 | www.globaltaxconsultants.pk

Bank Account attachment notification by FBR

The FBR had issued the directions pertaining to informing the taxpayer CEOs / principal officers / owners at least 24 hours prior to the attachment of bank accounts.

In order to implement the law in letter and spirit the to re-vest the power vested in the institution of the commissioner’s viz-a-viz action under Section 140 of the Income Tax Ordinance, 2001, the instructions with regard to the attachment of bank accounts and the Chairman FBR approval are withdrawn.

The field formations will accordingly exercise the powers vested under SRO 274(1)/2020 dated April 2, 2020, and Section 48 of the Sales Tax Act, 1990 for recovery of outstanding demand.

Shabbar Zaidi tweet about FBR’s this Directive

When Shabbar Zaidi joined FBR as Chairman, then it was his first step to give all powers of freezing of bank accounts to Chairman, FBR. Which has now withdrawn by Federal Board of Revenue (FBR).

See also  FBR Exempts Judicial Allowance by Honoring Court Judgment

He said, “My first instructions as Chairman FBR on no freezing of bank accounts in 2019, withdrawn yesterday relate to decency & etiquette in tax culture. It was totally legal. Commissioner’s right are not snatched. Decency & trust requires confidence between tax payers and tax collectors.

tax accounting services top tax consultants lahore pakistan
Ads:
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: